Homework Answers
| Assets | = | Liabilities | + | Shareholder's equity | ||||||||
| Cash | A/R | Equipment | Land | Supplies | A/P | Notes Payable | Capital Stock | Retained earnings | ||||
| 1 | 1530 | 1530 | Service revenue | |||||||||
| 2 | 1365 | 1365 | ||||||||||
| Bal | 1530 | 1365 | 1365 | 1530 | ||||||||
| 3 | 750 | 750 | Service revenue | |||||||||
| Bal | 750 | 1530 | 1365 | 1365 | 2280 | |||||||
| 4 | (4240) | 4240 | ||||||||||
| bal | (3490) | 1530 | 4240 | 1365 | 1365 | 2280 | ||||||
| 5 | 2500 | 2500 | ||||||||||
| Bal | (990) | 1530 | 4240 | 1365 | 1365 | 2500 | 2280 | |||||
| 6 | 890 | (890) | ||||||||||
| bal | (100) | 640 | 4240 | 1365 | 1365 | 2500 | 2280 | |||||
| 7 | 50000 | 50000 | ||||||||||
| bal | (100) | 640 | 4240 | 50000 | 1365 | 1365 | 2500 | 50000 | 2280 | |||
| 8 | (4000) | (4000) | Salary Expense | |||||||||
| bal | (4100) | 640 | 4240 | 50000 | 1365 | 1365 | 2500 | 50000 | (1720) | |||
| 9 | (500) | (500) | ||||||||||
| bal | (4600) | 640 | 4240 | 50000 | 1365 | 865 | 2500 | 50000 | (1720) | |||
| Total Assets | 51645 | Total Liab +shareholder's equity | 51645 |
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* M eBook Calculator Analyzing Transactions Prepare a table to summarize the following transactions as they...
Analyzing Transactions Prepare a table to summarize the following transactions as they affect the accounting equation....
Analyzing Transactions Prepare a table to summarize the following transactions as they affect the accounting equation. Services provided on account of $1,530 Purchases of supplies on account for $1,365 Services provided for cash of $750 Purchase of equipment for cash of $4,240 Issuance of a promissory note for $2,500 Collections on account for $890 Sale of capital stock in exchange for a parcel of land; the land is appraised at $50,000 Payment of $4,000 in salaries and wages Payment of...
Analyzing Transactions Prepare a table to summarize the following transactions as they affect the accounting equation....
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3-14 1-9 & B
B: prepare T accounts from the journal entries completed in a
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Analyzing Transactions Prepare a table to summarize the following transactions as they affect the accounting equation. 1. Services provided on account of $1,530 2. Purchases of supplies on account for $1,365 3. Services provided for cash of $750 4. Purchase of equipment for cash of $4,240 5. Issuance of a promissory note for $2,500 6. Collections on account for $890 7. Sale of capital stock in exchange for a parcel of land; the land is appraised at $50,000 8. Payment...
3-14 1-9 & B
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cash t account assume a beginning balance of 10,000.
t th bub balance 000, at was the Accounts Receivable Exercise 3-14 Journal Entries Prepare the journal entry to record cach of the following independent transactions. (Use the number of the tr 1. Services provided on account of $1,530 2. Purchases of supplies on account for $1,365 3. Services provided for cash of $750 4. Purchase...
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